When the period of your retirement is close one of your main questions is probably when and how to submit your Social Security application. Can you apply at age 62 or 66? What is the procedure for applying for Social Security once you've decided to start collecting retirement benefits? We'll address these quires and more in the following paragraphs.

When to Apply for Social Security Retirement Advantages

Social Security retirement benefits could be collected as soon as age 62 or as late as age 70. Full retirement age depends on your birthday, but for boomers now beginning to retire, the full retirement age is 66. If you get benefits before you reach full retirement age, your benefit will be decreased by up to 25%. On the other hand, if you delay collecting advantages after you reach full retirement age, your advantages will raise by 8% each year until you reach age 70. After age 70 you can no longer earn credits hence there is no advantages to delaying advantages after age 70.

According to the Social Security Administration, roughly 73% of current Social Security receivers are getting reduced benefits (because they elected to get them prior to their full retirement age); however this might not be the good strategy. Your health, life expectation, marital status and other sources all play a role in when you should start collecting benefits. Since Social Security plays such a vital role in your retirement income (at least for many individual), it is recommended that you contact a financial specialize who is knowledgeable in Social Security to help you determine the good time to start receiving retirement advantages.

How to Apply for Social Security Benefits

Once you've determined when to begin your benefits, how do you submit your Social Security retirement application? There are three procedures to apply for Social Security:

1. You might go online to Social Security.gov and apply for benefits right on the website. However, at this time you can only apply for retirement benefits online (you should call or go to an office personally to apply for survivor advantages).

2. Call 800-772-1213 to apply for benefits by phone.

3. Or you can go to an office in person if you want to talk to an employee in person. To get the nearest office, visit the site at Social Security.gov.

You will need the following details when you submit your Social Security application:

- Social Security digit

- Name at birth, date and place of birth

- Citizenship status

- Active duty service dates

- Marital status, partner's name, birth-date and SSN

- Name, date of birth and SSN of any previous partners

- Names of any unmarried kid below 18 years

- The name and address of each company you worked for in the last two years, integrating estimated income

- If you are within 3 months of attaining 65, you'll even need to let Social Security know if you are joining Medicare or not.

Further information may be required if you are self employed or if you worked in a government work which will offer an annuity benefit.

Submit Your Social Security Application Three Months in Advance

You should apply for Social Security retirement benefits three months prior to the date you desire to start receiving benefits. Payments are sent the month after the month they are due. For example, if you apply for retirement benefits and demand that they begin in October of 2010, you will get your first payment in November 2010.

How To Maximize The Social Security Spousal Benefit
Can a spouse collect on her husband's social security if she reaches retirement age before her husband? No. In order for a wife to collect Social Security benefits on her husband's earnings the following requirements must be met:

Completely New Regulations Suggest A Lot More Individuals Doing Roth IRA Conversions In 2010
As we near the end of 2010, countless people have already done Roth IRA conversions, and many others are questioning if a Roth IRA conversion in 2010 is the right move for them.

Some Important Points Which You Should Know About Social Security Spouse Benefits
When most people think about Social Security, they naturally think of retirement benefits. However about 1/5 of all Social Security benefits are spousal or survivor benefits, so when you're planning for retirement, it's important to consider the fact that you or your spouse may collect Social Security survivor benefits

Some Important Tips- To Learn About Getting A 401K Plan.
Retirement income is often referred to as the three-legged stool because traditionally retirement income has come from three sources: pensions, Social Security and your own savings. Well, the three-legged stool is looking pretty lopsided for many people these days as pensions become extinct and Social Security changes take place.

3 Reasons To Use A Fee-Only Financial Advisors
There are three different types of financial advisors: the commission broker who sells a product for a commission, the fee-based advisor who provides investment management for a percentage of the assets invested, and the fee only financial planner who provides a comprehensive financial plan for an hourly fee.

3 Ways A Financial Planner Can Help You Attain Your Financial Objectives
Many people wonder exactly what a financial planner does, and how they can help you. Here are just three ways a financial planner can help you achieve your financial dreams and goals.

Tips On How To Improve Your Own Credit Check Score In 5 Simple Ways
Having a good credit check score is an absolute must in today's lending environment. In this lagging economic environment, your credit check score is certainly more important than ever.

How Could Payday Loans Help.
Have you ever found yourself in an emergency situation? Do you require a substantial amount of money fast but don't know where to get it? Payday loans may be just the thing you need.